Victory Capital Management Inc. Lowers Position in VeriSign, Inc. (NASDAQ:VRSN)

Victory Capital Management Inc. lowered its holdings in VeriSign, Inc. (NASDAQ:VRSN – Get Rating) by 22.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,004 shares of the information services provider’s stock after selling 34,319 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of VeriSign worth $21,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co purchased a new stake in shares of VeriSign in the 1st quarter valued at about $30,000. Quent Capital LLC purchased a new stake in shares of VeriSign in the 4th quarter valued at about $66,000. ICICI Prudential Asset Management Co Ltd purchased a new stake in shares of VeriSign in the 4th quarter valued at about $70,000. HHM Wealth Advisors LLC purchased a new stake in shares of VeriSign in the 1st quarter valued at about $71,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of VeriSign in the 1st quarter valued at about $86,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.

VeriSign Trading Up 0.8 %

Shares of VeriSign stock opened at $197.20 on Friday. The firm has a market capitalization of $21.16 billion, a PE ratio of 26.87 and a beta of 1.00. The business’s 50-day moving average price is $174.84 and its 200-day moving average price is $194.50. VeriSign, Inc. has a 12 month low of $155.25 and a 12 month high of $257.03.

VeriSign (NASDAQ:VRSN – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The information services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.52 by $0.02. The firm had revenue of $351.90 million for the quarter, compared to analyst estimates of $348.77 million. VeriSign had a negative return on equity of 47.84% and a net margin of 59.09%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 EPS. As a group, analysts predict that VeriSign, Inc. will post 6.05 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Timothy Tomlinson sold 685 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $186.80, for a total transaction of $127,958.00. Following the transaction, the director now directly owns 15,692 shares in the company, valued at approximately $2,931,265.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lowered VeriSign from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $210.00 in a research report on Friday, April 29th.

About VeriSign

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VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.

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